Moore Capital Management LP Sells 78,000 Shares of KKR & Co. Inc. $KKR

Key Points

• Moore Capital Management reduced its KKR stake by 35.8% in the second quarter, selling 78,000 shares and retaining 139,600 shares valued at approximately $12.8 million. Institutional investors collectively own 76.26% of KKR.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $130 versus KKR’s reported $108.74 share price.
• KKR exceeded quarterly earnings expectations, reporting $1.63 in EPS versus $1.43 forecast, while supporting shareholders through a $0.195 quarterly dividend and a newly approved $500 million share-repurchase program.

Moore Capital Management LP lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 35.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,600 shares of the asset manager's stock after selling 78,000 shares during the quarter. Moore Capital Management LP's holdings in KKR & Co. Inc. were worth $12,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Praxis Investment Management Inc. increased its position in shares of KKR & Co. Inc. by 0.9% during the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager's stock valued at $1,276,000 after buying an additional 94 shares during the period. Horizon Bancorp Inc. IN boosted its position in KKR & Co. Inc. by 3.8% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager's stock valued at $243,000 after acquiring an additional 95 shares in the last quarter. Western Pacific Wealth Management LP boosted its position in KKR & Co. Inc. by 34.8% during the 1st quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager's stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Wernau Asset Management Inc. grew its holdings in shares of KKR & Co. Inc. by 1.0% during the 1st quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager's stock worth $1,006,000 after acquiring an additional 104 shares during the period. Finally, Mission Wealth Management LP raised its position in shares of KKR & Co. Inc. by 0.5% in the 4th quarter. Mission Wealth Management LP now owns 20,567 shares of the asset manager's stock worth $2,622,000 after acquiring an additional 110 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KKR. TD Cowen lifted their price target on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a "moderate buy" rating in a report on Monday, July 20th. Zacks Research raised KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Morgan Stanley dropped their target price on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating on the stock in a report on Tuesday, July 21st. Finally, BMO Capital Markets upped their target price on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $130.00.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock opened at $108.74 on Monday. The stock has a market cap of $97.61 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 0.92 and a beta of 1.78. The firm's 50-day moving average is $101.16 and its 200 day moving average is $97.68. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $152.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.20. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same period last year, the business earned $1.18 EPS. Sell-side analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, August 10th. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 24.84%.

KKR & Co. Inc. announced that its Board of Directors has approved a stock buyback program on Tuesday, May 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Key Headlines Impacting KKR & Co. Inc.

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Strong analyst price-target increase: Oppenheimer raised its KKR price target from $139 to $166 and reiterated an “outperform” rating, implying substantial upside from recent levels. Benzinga analyst rating report
• Positive Sentiment: Expansion in private aviation infrastructure: Apollo-managed funds acquired a significant interest in Atlantic Aviation, while KKR-managed funds remain a substantial shareholder. The partnership could support Atlantic Aviation’s growth and preserve KKR’s exposure to a potentially attractive infrastructure platform. Apollo Funds and KKR Announce Strategic Partnership
• Positive Sentiment: New infrastructure investment: KKR and Apollo are partnering with Enbridge on approximately C$2.7 billion of expansions to the Westcoast natural-gas pipeline system in British Columbia, expanding KKR’s exposure to energy infrastructure and long-term contracted assets. Enbridge, KKR form joint venture
• Positive Sentiment: AI data-center exposure: KKR is investing in SK Telecom’s newly launched SK Horizon, an AI data-center infrastructure company. The deal gives KKR participation in the expanding demand for data-center capacity and digital infrastructure. SK Horizon investment announcement
• Neutral Sentiment: Antitrust case resolution: KKR agreed to a stipulation and order with the U.S. Department of Justice, potentially removing some uncertainty, although the settlement also highlights ongoing regulatory and legal risks. KKR reaches settlement in DOJ antitrust case
• Neutral Sentiment: Fixed-income appeal: An analysis described KKR’s “baby bonds” as offering potential capital appreciation, but this is an investment view on the company’s debt securities rather than a direct earnings catalyst for common stock. KKR baby bonds analysis
• Negative Sentiment: Reported fraud investigation: A law firm is seeking KKR investors to participate in a fraud investigation, creating potential litigation, reputational, and financial risks. The notice does not establish wrongdoing, but it may weigh on sentiment. KKR investor fraud investigation notice

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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